Marginal Social Cost Is Equal to

question 324

Multiple Choice

Marginal social cost is equal to

• A) marginal private cost plus the marginal external cost.
• B) the marginal external cost.
• C) the value of the tax that will make the market efficient.
• D) the marginal cost imposed on people other than the producer of the good.

---

Definitions:

Monte Carlo

A statistical method utilizing random sampling to approximate the probability of certain outcomes in decision making or physical systems.

Discrete-event

Pertains to a type of simulation modeling that represents systems as a series of distinct events occurring at specific points in time.

Deterministic Modeling

A mathematical approach used in planning and decision-making that assumes a certain outcome based on known variables, without accounting for randomness or uncertainty.

Mixed-mode

A method or approach that combines different methods or styles, often seen in research methodologies or learning environments.